A number of other equities research analysts have also commented on ARRS. Zacks Investment Research lowered Arris Group from a buy rating to a hold rating in a research report on Wednesday, June 15th. Royal Bank Of Canada upped their price target on Arris Group from $31.00 to $33.00 and gave the company an outperform rating in a research report on Thursday, July 28th. RBC Capital Markets restated an outperform rating and set a $33.00 target price (up previously from $31.00) on shares of Arris Group in a research report on Thursday, July 28th. Jefferies Group upped their target price on Arris Group from $31.00 to $34.00 and gave the company a buy rating in a research report on Friday, July 29th. Finally, TheStreet upgraded Arris Group from a hold rating to a buy rating in a research report on Thursday, August 11th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $33.20.
Arris Group (NASDAQ:ARRS) opened at 29.09 on Monday. The firm’s 50 day moving average price is $28.14 and its 200 day moving average price is $24.88. Arris Group has a 52-week low of $20.05 and a 52-week high of $32.93. The firm’s market cap is $5.55 billion.
Arris Group (NASDAQ:ARRS) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. Arris Group had a positive return on equity of 17.91% and a negative net margin of 1.09%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue was up 37.3% on a year-over-year basis. Equities research analysts anticipate that Arris Group will post $2.82 EPS for the current fiscal year.
In related news, insider Ronald Coppock sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $28.50, for a total transaction of $285,000.00. Following the completion of the sale, the insider now directly owns 24,750 shares of the company’s stock, valued at $705,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce William Mcclelland purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average cost of $27.15 per share, with a total value of $135,750.00. Following the completion of the transaction, the insider now directly owns 174,288 shares of the company’s stock, valued at approximately $4,731,919.20. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ARRS. CKW Financial Group purchased a new position in shares of Arris Group during the second quarter valued at $123,000. MU Investments Co. Ltd. purchased a new position in shares of Arris Group during the second quarter valued at $132,000. First National Bank of Omaha purchased a new position in shares of Arris Group during the third quarter valued at $204,000. Telemus Capital LLC purchased a new position in shares of Arris Group during the third quarter valued at $257,000. Finally, Calvert Investment Management Inc. raised its position in shares of Arris Group by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock valued at $206,000 after buying an additional 167 shares during the period. 85.06% of the stock is owned by institutional investors and hedge funds.
Arris Group Company Profile
ARRIS International plc focuses on entertainment and communications technology. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The CPE segment’s products include Set-Top, Gateway, digital subscriber line (DSL) and Cable Modem, and Embedded Multimedia Terminal Adapter (E-MTA) and Voice/Data Modem.
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